Cermaq completes Copeinca share sale


SeafoodSource staff

Published on
August 29, 2013

Norwegian fish farming company Cermaq announced today that it has sold off the last of the shares it once owned in Peruvian fishmeal and fish oil company Copeinca.

Cermaq announced the sale of 13.6 million shares in the Copeinca, at a price of NOK 928.5 million (USD 151.8 million, EUR 114.7 million), representing the last shares Cermaq owned in the company.

The transaction marks the official end of a lengthy saga that started earlier this year, whcn Cermaq made a bid to buy the company. That effort ended, however, when Cermaq shareholders met but were unable to agree to fully support a takeover.

Rival bidder China Fishery Group has since bought out Copeinca at a price of NOK 68.17 (USD 11.14, EUR 8.42) per share.

In other trade news, two Cermaq shareholders announced their own transactions in Cermaq stock, Edgar Luck announced a sale of  his 827 shares in the company, at a price of NOK 102.50 (USD 16.76, EUR 12.67), while Jason Mann sold off his 827 shares for the same price. According to mandatory disclosures, the transactions left both investors with no Cermaq shares.

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